First Bank & Trust Sells 52 Shares of Dover Co. (NYSE:DOV)

First Bank & Trust trimmed its position in shares of Dover Co. (NYSE:DOV) by 4.0% in the 4th quarter, HoldingsChannel.com reports. The fund owned 1,254 shares of the industrial products company’s stock after selling 52 shares during the quarter. First Bank & Trust’s holdings in Dover were worth $235,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of DOV. Versor Investments LP purchased a new position in shares of Dover during the third quarter valued at about $1,920,000. Assenagon Asset Management S.A. increased its position in shares of Dover by 195.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 91,031 shares of the industrial products company’s stock valued at $17,077,000 after buying an additional 60,235 shares during the period. Principal Financial Group Inc. increased its position in shares of Dover by 3.1% during the third quarter. Principal Financial Group Inc. now owns 177,844 shares of the industrial products company’s stock valued at $34,100,000 after buying an additional 5,372 shares during the period. Empowered Funds LLC increased its position in shares of Dover by 54.3% during the third quarter. Empowered Funds LLC now owns 13,158 shares of the industrial products company’s stock valued at $2,523,000 after buying an additional 4,629 shares during the period. Finally, TrueWealth Advisors LLC purchased a new position in shares of Dover during the fourth quarter valued at about $475,000. 84.46% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on DOV. StockNews.com upgraded shares of Dover from a “hold” rating to a “buy” rating in a research report on Tuesday, February 4th. Wolfe Research upgraded shares of Dover from a “peer perform” rating to an “outperform” rating and set a $227.00 price target on the stock in a research report on Monday, October 28th. UBS Group cut their price objective on shares of Dover from $217.00 to $211.00 and set a “neutral” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada upped their price objective on shares of Dover from $196.00 to $214.00 and gave the stock a “sector perform” rating in a report on Friday, January 31st. Finally, Wells Fargo & Company upped their price objective on shares of Dover from $200.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $218.91.

Dover Trading Up 0.8 %

NYSE:DOV opened at $206.56 on Friday. The company’s 50 day moving average price is $195.53 and its 200-day moving average price is $192.28. Dover Co. has a 52 week low of $159.58 and a 52 week high of $222.31. The company has a quick ratio of 1.52, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $28.35 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 2.04 and a beta of 1.24.

Dover (NYSE:DOV) last posted its quarterly earnings results on Thursday, January 30th. The industrial products company reported $2.20 EPS for the quarter, meeting analysts’ consensus estimates of $2.20. Dover had a net margin of 32.95% and a return on equity of 21.03%. On average, equities research analysts forecast that Dover Co. will post 9.45 earnings per share for the current fiscal year.

Dover Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Stockholders of record on Friday, February 28th will be issued a dividend of $0.515 per share. This represents a $2.06 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date of this dividend is Friday, February 28th. Dover’s payout ratio is 10.59%.

Dover Company Profile

Dover Corporation provides equipment and components, consumable supplies, aftermarket parts, software and digital solutions, and support services worldwide. The company's Engineered Products segment provides various equipment, component, software, solution, and services that are used in vehicle aftermarket, waste handling, industrial automation, aerospace and defense, industrial winch and hoist, and fluid dispensing end-market.